Oberoi Realty today said it has raised Rs 1,200 crore by sale of shares to institutional investors.
The company had launched its qualified institutional placement (QIP) on June 13 and the issue has been closed today.
The Mumbai-based developer has issued 2.4 crore shares at Rs 500 per scrip. The issue price is lower than the floor price of Rs 509. 29.
"Our company is issuing 2,40,00,000 equity shares of face value of Rs 10 each (the Equity Shares) at a price of Rs 500 per equity share (the Issue Price), including a premium of Rs 490 per equity share, aggregating to Rs 1,200 crore," the company said in a document filed with Sebi.
"...the issue price of Rs 500 per equity share (including a premium of Rs 490 per equity share), which is at a discount of 1.82 per cent (i.e. Rs 9.29 per equity share) to the floor price of Rs 509.29 per equity share...," the company said in a regulatory filing.
Shares of Oberoi Realty today ended 0.62 per cent lower at Rs 506.55 apiece on the BSE.
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